Reinsurance Group of America Incorporated 5.75% Fixed-To-Floating Rate Subordinated Debentures due 2056 (RZB)

FairStock Score: 56/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I look at this 5.75% fixed-to-floating subordinated debenture due 2056 from Reinsurance Group of America. The issuer reinsures life and health risks globally with 4,300 employees and an $8.9B market cap. On 2026-06-16, the debenture closed at $25.34, near its 52-week high of $25.38 and well above its low of $24.76. FairStock’s calculations show EPS of $6.09, a P/E of 4.16, and a P/B of 0.12, but these use the debenture price and thus are not meaningful equity multiples. The same applies to the Graham Number of $166.75 and 84.8% margin of safety. The issuer shows ROE of 9.90% and D/E of 0.46, which suggest reasonable profitability and leverage. However, ROCE of 0.85% is very low, indicating poor capital efficiency. The Piotroski F-Score is 0/9, though only 0 years of filed results are available, so the score is based on insufficient data. The Lynch category is none for the same reason. As a subordinated debenture, this security ranks below senior debt, so credit risk matters more than equity valuation. The fixed-to-floating coupon means income may change after the fixed period. Without interest coverage or cash flow data, I cannot judge the safety of the coupon. The price near its high offers little cushion. For an income-focused investor, the yield might compensate, but the weak capital returns and lack of filing history warrant caution. I would need more credit-specific data before seeing a margin of safety.

In plain English: This is a bond-like investment from Reinsurance Group of America, a company that reinsures life and health risks. The company earns a profit and carries moderate debt, but some return measures look weak. The price is near the top of its recent range, so it does not look like a bargain right now.

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Data as of 2026-06-16 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer